https://www.miningweekly.com

Norsk Hydro sees weaker aluminium demand growth in 2019

29th November 2018

By: Reuters

  

Font size: - +

OSLO – Norwegian metals maker Norsk Hydro expects global primary aluminium demand to grow by 2% to 3% in 2019, down from the 4% seen for 2018, it said on Thursday.

Trade sanctions and tariffs are impacting global flows of aluminium and increasing uncertainty on economic growth.

Hydro expects a continued deficit in the global primary aluminium market in 2019 despite the slower economic growth expectations.

Long-term, Hydro kept its view of global aluminium demand to grow by 2% to 3% a year over the next 10 years, with semis demand estimated at 3% and recycling at 3% to 4% a year over the same period.

The company still has no firm timeline for the restart of full output at its key Brazilian alumina plant, which has been operating at half capacity since February following a spill of untreated water.

"We are aiming to establish a common platform with authorities and the court system to have an aligned way forward towards full production, utilizing the best available technology," CEO Svein Richard Brandtzæg said in the statement.

Alunorte, the world's largest alumina refinery, has a capacity of about 6.3-million tonnes of alumina a year.

Hydro shares were up 1.2% in a broadly firmer metals sector following US producer Alcoa's 7.7% rise on Wednesday.

Edited by Reuters

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION